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. the faa put out a statement a short time ago saying that controllers will space planes farther tercel that they can manage planes that will the lead set delays. today there were approximately 400 business system attributed to a staffing reductions resulting from a furlough. it is out there. we are delayed. what do you think about that? >> i think it is a little bit crying wolf so far. today looked like any other day. there were delays add new work in new york and jfk that were attributed to high wind. charlotte douglas was the only one where it was attributed to staffing. about 20 minutes. nothing new. melissa: at the same time transportation infrastructure bill schuster said we know the faa has the flexibility to apply for a los. yet the administration has made choices that appeared designed to have the greatest possible impact on theraveling public. he is saying the faa is making this is painful as they possibly can to drive on the point that ain't made our money. that's posbly true? >>ell, i would be the last one to challenge the chairman. i do think that there has been a great dea
them to the ground. rich: we have contacted the faa repeatedly this morning. take a look at the numbers. 16 billion a year. total employees for the faa, 47,000. 50,000 of them are air traffic controllers. they are supposed to take one day off every other week. to you. connell: rich, thank you. let's go to the fourth opinion editor. he joins us from washington delta. the politics of this is interesting. we are just getting started this week. what is the political impact, in your view? >> i think political impact is very bad. it's a black guy for the obama administration, congress and the faa. this is going to come back and haunt washington in a major way. connell: you said it would be disastrous for the administration. why? >> well, i think ultimately the jury understands there are always ways to cut spending. it would make the obama administration appear as though it is making six. there has to be some other way to reduce expenditures that do not impact flight times and everything. do not think this looks good for congress or the obama administration. connell: most people believe that i
the stock is having such a tough time lately dropping below 400 just last week. >>> then the faa warning about long airport delays because of government budget cuts. but in addition to grounding your travel plans, the cuts could also prevent your portfolio from taking flight which we will look at coming up. >>> don't miss my exclusive interview coming up with johnson & johnson ceo alex gorsky. that stock hitting an all-time high today. how he plans to push it even higher. that and a lot more coming up on the "closing bell," most important hour of the trading day right now. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ is apple >>> apple is looking a little more polished today. the beaten down stock one
. faa furloughs, they just kicked in. some delays now appearing late yesterday in and is around new york. this st for the first time with travelers waiting more than an hour. delays were seen at other airports in the u.s. the faa furloughs affect 47,000 employees, including nearly 13,000 air traffic controllers. experts say the first real test is today when traffic increases and you remember, you saw all these stories, even last week saying the sequester doesn't matter. >> because a lot of the stuff hasn't kicked in. now, if things don't matter this week, then you can say they really don't matter. >> so this is the test one way or the other. we're going to talk to mike boyd about all this and more. >> in economic news, a business economist says washington's budget tightening is having a minimal effect on business. 93% of those surveyed say political developments had no effect if the first quarter and 95% say they had no impact on capital spending plans. among the biggest concerns, global economic conditions and the potential for further government spending cuts and the regulatory environ
say we could know by next week whether the dreamliner will soon be back in service. the faa grounded the 50 jets after batteries burned onboard two 787s earlier this year. boeing came up with a fix, which the faa is now testing. the ordeal has already cost the jet maker $600 million, but more losses could be added on as airlines consider asking boeing for compensation. a quiet town in texas mourns the tragic deaths of more than a dozen people caught in a massive explosion at a fertilizer plant. it's considered the largest industrial disaster this decade. president obama quickly pledged federal emergency funds to the area. rescuers spent hours searching through rubble for survivors. the disaster started with a small fire at west fertilzer plant. according to reports, the company was fined $2,300 by the epa for a saftey violation, but settled in 2006. the german parlaiment is backing a $13-billion bailout for struggling cyprus. it's nearly twice the amount estimated a month ago. german taxpayers worry even more money may be needed. the cyprus parliament votes on the bailout package nex
'll get the analyst behind that call ahead. >> also the sequester effect on travel. >> faa employee furloughs and our major airport delays and all in the future and former department of transportation inspector mary shafo live. another monday morning, david, in which you've propelled a major dow component, microsoft up over 4% on the news that an activist shareholder is buying a $2 billion stake. so i think by my calculations you've created on that report about $2.5 billion of value so far this monday morning. >> simon, it's the value being created by the news itself, not the fact that i've reported it and we've been able to tell people that value act, large activist fund that often does take large positions in companies and actually doesn't get active if things go their way have taken a $2 billion position. on a relative bases it's 1% or less than 1% overall is what it would amount to of the outstanding shares of microsoft. that being said, valueact does have a history of holding stakes for quite some period of time, monitoring those companies and their managements and then getting
, if the why all of the delays, if the faa's budget is getting bigger without sequestration. >> thank you oroville and u wilbur, the media, neil and wilbur, the media, neil and buzz. for teaching us that you can't create the future by colleging to the past.stof loo with that, you are history. instead of looking behind. delta is looking beyond. 80,000 of us investing billions. neil: a republican senator and a democratic senator have the same question for the faa, if our budget is bigger, why are the delays getting longer, they want to know if you cut, why controllers and towers at the top of the list. not ought of the other stuff under -- not all other stuff under. senator, quickly garnering a lot of support for what he is calls protect our skies act. you want to know, look, we understand the sequestration cuts but we question why these cuts? >> absolutely. no business person would make the choice to cut things that effect their customers the most. why does government make that decision unless there is some motivation to get the consequences to be as dramatic and difficult as possible. nei
real business. >>> all right. first up, as airport delays mount to the faa is blaming the spending cuts sequester, forcing thousands of air traffic controllers to take unpaid leave. but republicans blame the obama administration for selectively choosing which cuts would make us all feel the most pain. take a listen to kansas senator jerry moran earlier today. >> it seems as if politics is playing a significant role in the determining what actions the faa are taking, and every indication that i have from conversations with my colleagues is it emanates from the white house. >> all right. here to talk about what i call the phony crisis and the obama democrats' attempt to raise $1.2 trillion in taxes is texas republican congressman, vice chair of the joint economic committee, my friend brady. and democratic strategist steve mcmann and townhall.com's guy benson here with me. mr. kevin brady, welcome. i know you blasted the irs for their fur lows. but i want to just put up -- i don't know if you can see this, probably not. i'm going to read the numbers. we're going to show you that the faa ha
to the airport to get back to new jersey. airport delays as faa furloughs begin to kick in. liz: rich edson at the airport. what are you hearing overall about the situation, rich? overall we got hundreds of delays yesterday. airline association says we could see up to a few thousand delays because of this when you look at this, go around the country, there are delays in charlotte, there are delays elsewhere. faa is saying there are delays basically close to coast. as far as specifics are concerned they could not provide us with any ties of numbers. that has a number about folks, especially republicans in congress say this is entirely structured by the faa to inflict what they say is maximum pain on airline travelers. this is comment about bill shoeser, the chairman of the transportation and infrastructure committee. he said disregard for the american public is indicative that the admin strution -- administration views the sequester as a attempt to score political points rather than address issues and than find real savings in a bloated federal brock bureaucracy. the way they arranged the la
on a sequester cuts through airport delays. where the faa could have cut the that the president had let him. outrage tuesday rolls on after this. stuart: this is an understatement, netflix shares are up this morning. way up. more people signed up to pay for netflix after three months of "house of cards." people loved it. many people subscribe to netflix now, almost as much as hulu, hbo. iphone sales expected to be down. apple down this year, up only $1 now, below 400. look at coach. i always considered it a demographic luxury. sales are up better than expected, coach is assuming 11%. $5 stocks hitting all-time high. all of them are up. up 125. outrage tuesday rolls on in a moment. [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all onhinkorswim from td ameritrade. ♪ ♪ the middle of this special moment and i need to run off to the bathroom. ♪ i'm fed up with always having to put my bladder's needs ahead of my daught
in the light air waiting for faa approval. how long? and we will see how the currency holds up against the dollar across the board gains against the greenback. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >> your fox news minutes and president of bombing and the first lady attending the memorial service for this week's bomb attack. former massachusetts governor and presidential nominee mitt romney is among those attending. the president is expected to give remarks following the service. the search for survivors continues after the massive fertilizer plant explosion in west, a texas. between 15 people and dead when m
travelers at some of the nation's busiest airports. yesterday alone the faa said there were more than 400 flight delays nationwide. 47,000 faa workers must take furlough days, including 15,000 air traffic controllers, losing one day of work every other week. that's a 10% reduction in staffing. >> when 70% of your budget of your operating budget is personnel, you cannot avoid when the cuts are as deep as they are in the sequester, the kinds of actions that are taken. >> today the transportation department says it's considering a request from the airline industry to temporarily suspend the delay rule in light of these furloughs. that rule prohibits airlines from keeping passengers on the tarmac for more than three hours. here in the bay area, an average of three air traffic controllers are scheduled to be furloughed in san francisco, oakland and san jose. officials say so far they haven't seen significant delays due to the furloughs here. however, the faa tells us los angeles international experienced delays of more than three hours for some arriving flights last night and that ended up cau
: sequester is faa starting air traffic controller furloughs yesterday it has been warning for months this day would becoming. and delays would follow, so far it is pretty. the usual havoc and delays. you would not know it looking at headline, main street media, airline and flight sshools sinker ravel guru mark murphy said that administration is manufacturing this mess. he does not deny the lines but deny so call reasons. >> i think it just forced, they want it to be difficult, it there is no reason. are we spending more money this year than last year, are we not going to spend a trillion more in 2013, than we spent in 2007. neil: faa has a higher budget this year than last year, i having said that, what is in it for them, if you think about. everything i think trickles down to the president good or bad. >> a few months they played the hand it was a disaster, they walked it back, they saw of it not a disaster we just slowing increase in spending. neil: your facts are dead obut these cuts would be rolled in this is latest more come ing on the travelling, you say it is a nightmare because there
, the sequester. the faa told us they don't have enough people at kennedy so oui not taking off. i said you have to be kidding me? i'm sorry. wield have loved to announce it to people so you could go mack your calls, but the faa has ordered a full stop and we are not allowed to do anything and we have no idea until two minutes ago. >> what about the sequester's impact in a real way on ticket sales particularly for government employees and the like and travel will? i know we reported decent quarters and i know we've been talking about them as investments for the first time ever as opposed to trade. >> there is a concern for business travel and leisure travel. >> the board says on time, and they have no control of whether it's on time. suddenly on time means nothing, david. on time means nothing because if you look at it they don't know. i said, come on, delta has to know. the faa said please tell people it's because we're shorthanded and we don't want to be shorthanded in kennedy when you land, and i thought that was wise. i too, would like enough air traffic controllers to handle kennedy opinion
but this investigation is going beyond that. this is looking at the f.a.a. pros for certifying airplanes. the way it works now is the f.a.a. does rely on the manufacturer because they want to get the planes certified in a timely manner. what the original process found with the battery, maybe it could catch on fire once every 10 million flight hours. what happened were two fires in 52,000 flight hours. since then the battery has been resigned and the company is saying and the government is saying that redesigned battery should be just fine. take a listen. >> we believe that the work that was done on the original battery, that that failure rate was an appropriate failure rate and we believe that we've restored that design intent at this point. >> it's still concerning there's no root cause yet discovered by the company or the government as to why the batteries caught fire. one in the air by japan and the other at boston's logan airport. as for the logan fire, the f.a.a. was asked whether or not there could have been a problem if the plane was in the air and they say they don't know how to make the
caught up in the faa sequester and this is probably the first hand account of sewing th seeing this. >> we were about to take off and the pilot comes back and doesn't see me cnbc. the faa says we don't have enough air traffic controllers to take off. i said is this from delta? the faa wanted to make it very clear to everyone onboard is that the reason we're not taking off is because they're shorthanded. oh, jim kramer from cnbc, would you please get the word out that we're not taking off because the faa said you cannot come from orlando. we're not ready. we don't have enough people. it was pretty amazing. >> it was orlando to where? la guard wra? >> orlando to kennedy. >> it was absolutely not a weather delay. we are ready to go. delta is ready to go. the faa says listen, you can't come in. we don't have enough people. we can't do the job. it was remarkable. we said how long? two and a half hours? why is that? >> maybe two and a half hours the faa says they might be able to round up enough people to land the airplanes in kennedy. >> that is stunning. i was watching in horror because
are set to fly again. friday, the faa approved boeing's battery fix on its 787s. the jets could be in the air within weeks. meanwhile, boeing is slowing down production of its 747-8 jumbo jets because of weak demand for freighters. it is not expected to have a major effect on the jet maker's finances. dripping oil prices are seeping into the cost of gasoline. a gallon of unleaded fell around a nickel over the past week. phill flynn of price futures group joins us now. good morning to you phil. - good morning! usually you have me on when gas prices are going up and you are complaining. i think i should get some credit now that they are coming down. - how low will they go? - i think we could fall another 25¢ a gallon right now, because, let's face it, the cost of crude has been tumbling. in fact, if you look at the cost of brent crude, which has really been following gasoline prices, we are under $100 a barrel, and even opec may not be able to stop it, though they are talking about calling an emergency meeting. so the outlook for the summer driving season looks clear and sunny,
if the government gives too much authority to aircraft makers for safety testing. the f.a.a. has approved a fix for the battery problem. >> investors will watch how tarnished is apple's shine? they are releasing the latest quarterly earnings and most picket disappointing results. apple's stock has plunged from $700 to $390 last week. apple has not released new products and sales have been mediocre but expectations are so low apple could surprise wall street and begin a turn around. >> bill that could impose sale taxes on online purchases clear add hurdle. the senate votes 74-20 to take up the bill to give states the authority to require online retailers like amazon to collect state and local sales taxes. if support continues, the senate could pass the bill by this week. california and eight other states already have laws that require online retailers to collect taxes for internet purchases. >> netflix is coming back after house of cards. >> good morning, brace for delays if you are flying. the f.a.a. is expected to continue to keep planes on the ground in some of the busiest airports as budget
travel day it's monday. 47,000 faa employees will get furloughed as a result of budget cuts. they will lose one day of work every other week. the pilot's union due to the faa will staffect so many people. >> out of those 15,000 were air traffic controllers. perhaps it's a better idea to perhaps maybe drive somewhere because gas prices are going down. >> this is the time of year when they are supposed to go up. let's enjoy it while it lasts. gas prices could fall almost $0.20 by memorial day. it would go down to $3.30 a gallon. inventories are high we have a lot of supply. and the economy is slowing down. consumption is the lowest since 1997. this morning gas prices averaging 3.52 a gallon. last year at this time 3.86. that's a nice little savings. >> some say could go below $3 a gallon? >> rocky mountain region could see 32 -- $2.98. >> road trip. >> finally. it is 11 minutes after the top of the hour. a runner survives the marathon bombing only to return home to texas to witness the fertilizer plant explosion and he's sharing his story. we will have that coming up. >>> they
what those jitters say about the state of the this market coming up. ashley: outrage over faa furloughs and flight deys. lawmakers demanding answers from the white house. but those delays not stopping airline stocks from soaring. they're in the green today. we'll have all of that straight ahead. tracy: everyone is talking apple expected to report its first quarterly profit drop in 10 years. can apple do anything to stop the slide? we'll have a preview coming up. ashley: first at to the top of the hour, stocks back on track after a steep drop last hour. nicole petallides on the floor of the new york stock exchange. sandra smith is in the pits of the consider me. let's begin with nicole. i guess it as hacker flash crash of sorts, nicole. >> that is good way to call it. this is moment, whew, its all done. we made it through. look where market averages are. they are virtually where they were moments before we saw the market move into negative territory. the dow industrials up 130 points, a gain of 1%. like s&p 500, tech-heavy nasdaq best of the bunch. continuing trend we've seen three days
penalty. >>> passengers experienced some delays at u.s. airports on monday as the faa began imposing furloughs of air traffic controls. but the widespread traffic never really materialized. flight aware.com says only about 150 flights were canceled. and is while some people waited nearly two hours to take off, delays were much shorter on average. let's get more now from aviation industry consultant ray. ray, good to see you. this isn't just a story about monday, is it? the real question is what happens as these furloughs continue to play out? >> yes. it's going to take at least a couple of days before we see the full impact of these budget cuts. >> talk a little bit about what's coming down the pike. it's pretty significant, to some extent. >> it is. and i think this puts forward a good argument on why the faa should be a public corporation in the u.s. with its own budget to get away from some of the politics of washington. this is a mandatory type of function that the airlines do need and is it's going to be very costly to the airlines, i believe, if this situation continues to move
is the faa is overall budget is higher than a year ago. >> that's right. >> neil: so there's been no huge personnel overall hit and a huge agency you can cut a lot of. >> in our editorial today, we pointed out they just expended $500 million for a program of sustainable cities. don't know what that money is being used for but i bet the american people are saying, don't cut the air traffic controllers, cut that program. there's a lot of flexibility the administration can be use. i think it's a political ploy, and you asked the question, who is going to win? i don't think the american people are going to be too happy with the president because he is furloughing. >> neil: such a pleasurable experience going to the airport. steve moore, thank you very much. one senator is offering the president a way around the furloughs. >> name one suspected terrorist, three public defenders, lots of angry taxpayers. @ >> neil: might not be an enemy combatant about dzhokar tsarnaev will be armed to the teeth. not one, not two, but three public defenders defending them, and the criticism of the presiden
but that continued delays and cancellations are expected. at the airline's request the faa grounded all american flags at least through 5:00 p.m. eastern as the company tried to work through the problems. estimated about 900 flights would be delayed if american resume flying by 5:00 p.m., causing another 800 delays tonight because planes and crews would not be where they are needed. customers complained to social media and they described long lines and frustration at the lack of information from airline employees. one passenger in dallas. saying tensions are high, a lot of people getting mad. several yelling at american agents. gerri: not too surprising. we really appreciate you getting on this for us. thank you. onto tonight top story, a shocking admission from the head of the fda, age and chief margaret hamburg said she is almost powerless to protect us from dangerous drugs like the one from a massachusetts company blamed for the deaths of 53 people. that word coming in after a week full of such reports describing deplorable conditions and oversight at pharmacies around the country. the fda ca
them. also delayed travelers finding themselves waiting in airports as faa furloughs just kicked in. >>> and the investigation in boston, the wounded marathon bombing suspect, he's now responding to questions. it's monday, april 22nd, 2013 and "squawk box" -- it's early, it's monday morning, it begins right now.
of flying to your vacation destination this summer? reuters is reporting that the faa is expected to handle fewer flights during peak hours because furloughs at control towers. airlines are still trying to understand the impact of those furloughs. that is the latest from the fox business network giving you the power to prosper. tracy: prosecutors say this takes the cake. i like that. adam: ed jersey term. tracy: iris workers stealing benefits, the same workers charged with protecting the system. liz macdonald is here with the bottom line and i can't say we stay in new jersey. liz: good to be with you. this stories in memphis, tenn. dozen irs workers wrongfully charged, being charged with illegally taking government benefits. jobless benefits, food stamps, housing vouchers, welfare, we got a statement from the u.s. attorney on this. iris employees brazenly stealing from law-abiding taxpayers. in the district attorney saying they are freeloaders, doubly frustrated because they are bilking the government money and they know how to work the system being inside the system. we expect better from
cancel, schools closed and that's not lockdown for boston, but it's-- >> it's watertown and f.a.a. has flight restrictions 3 1/2 miles around watertown, the amtrak is not having service from boston to providence. you have the cabs have been stopped and not allowed to pick up any people in the boston area, as well as, you know, it's a fluid changing situation, and the t service, which is the transportation service in and out of the service has also been stopped. while you say not a lockdown, the mayor has said everybody to stay inside. so, you know, it's a lockdown in the boston, watertown, belmont, cambridge, everybody is hunkering down and waiting for this thing to play out. stuart: yes, sir, senator scott brown, we appreciate you being with us. valuable time. appreciate it. >> thank you, sir. keep the faith, everybody. stuart: yes, sir. now, also with me this morning here in new york, monica crowley. i want to establish monica's credentials before we go any further. you've got a ph.d. in security, security, national security, you are an expert on russia and on chechnya, is that corre
Search Results 0 to 28 of about 29 (some duplicates have been removed)

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